The electronic trial master file (ETMF) market is expected to register a 12.5 % of CAGR over the forecast period. The key contributors in the market growth are rising adoption of etmf systems and increasing number of clinical trials. According to the World Health Organization, in 2019, the number of registered trials were around 92% in South East Asia and around 66% in the Eastern Mediterranean region. The etmf systems are gaining popularity as it is a convinient tool for managing the large pool of data that is collected during the trials. It requires no human involvement hence minimal error. Thus, it is expected to boost the market growth over the forecast period.
Key Market Trends
Pharmaceutical & Biotechnology Companies Segment is Expected to Exhibhit a Significant Market Growth in the Electronic Trial Master File (etmf) Market
Pharmaceutical & Biotechnology Companies are expected to show a significant growth in the market, primarily due to the increasing investments in the research and development activities. According to the European Federation of Pharmaceutical Industries and Associations, the overall sales of pharmaceutical industry worldwide was recorded to be approximately 852,647 million USD.
Furthermore, the number of trials are increasing which requires the etmf system for the management of the data with respect to the patients and drugs. According to the Europeans Medicine Agency, currently (2020) there are 37,293 clinical trials registered in Europe. Hence, these factors are expected to boost the demand of etmf systems in pharmaceutical and biopharmaceutical companies.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to be a dominant region in the Electronic Trial Master File (etmf) market owing to the increasing investments and number of studies related to research and development. According to the Pharmaceutical Researchers and Manufacturers of America (PhRMA), United States has highest share of around 58% in terms of R&D expenditure. In addition to, the R&D expenditure by biopharmaceutical companies were around 79.6 billion USD in the United States as per the same source. Furthermore, according to the clinical trials.gov, in 2019, around 293,321 studies were registered during the start of the year and around 32,523 at the end of year. Hence, these factors will propel the etmf market in North America.
The market for electronic trial master file (ETMF) is moderately competitive and several companies that are well known in th market are Veeva Systems, Aris Global LLC, Master Control, Inc., Clinevo Technology, Oracle Corporation, Phlexglobal, Transperfect, Aurea Software, Labcorp (Covance, Inc.) and Sureclinical.
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1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Rising Adoption of ETMF Systems
4.2.2 Increasing Number of Research & Development Activities
4.3 Market Restraints
4.3.1 Budget Constraints
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.2 By End User
5.2.1 Pharmaceutical & Biotechnology Companies
5.2.2 Contract Research Organizations
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Rest of the World
6.1.1 Veeva Systems
6.1.2 Aris Global LLC
6.1.3 Master Control, Inc.
6.1.4 Clinevo Technology
6.1.5 Oracle Corporation
6.1.8 Aurea Software
6.1.9 Labcorp (Covance, Inc.)
A selection of companies mentioned in this report includes:
- Veeva Systems
- Aris Global LLC
- Master Control, Inc.
- Clinevo Technology
- Oracle Corporation
- Aurea Software
- Labcorp (Covance, Inc.)